I have limited cash at this point so I am looking to partner with an experienced rehabber to learn from so that I can learn, make a small percentage of the profit, you make a majority of the profit and the wholesaler can make some money and get rid of the property.I have a relationship with a seasoned broker/wholesaler that I am learning from but it requires that I put all the money up front and I am just not to that point yet.Message me if interested and let me know if you have done this before and I would like to see how your Joint Venture agreement might look like.  

For those that are the sky is the limit! 

If you have to personally guarantee the LLC loans, then you should expect those to count toward your loan limit with Fannie/Freddie. 

Reaching owners can be tricky.....mail is easy (you'll have their name and address), but may be limited in effectiveness. 

The Seller grants possession and use to the Buyer in a limited set of rights.  

You should also get a good snow shovel (hardware store) and maybe a broom - there will be small areas, like steps, where it will be hard to use the snowblower.For the lawn, if all your grass is within 100 feet of an outlet, and the lawns are relatively "open", you might consider a corded electric mower. 

I like Matthews ideas above, and you may have to limit your scale and take some of the mystery out of it, like with simple buy and holds that pencil out well..

We knew the market was starting to make a comeback from the bottom, and was getting ultra-competitive as big investors were making all-cash offers and inventory was limited.  

Straight out of high school I served in the military and then spent the past 10 years working in IT.I have finally reached a point where I’m tired of working for the corporate industry on a limited salary while doing nothing for my retirement.For the past year I’ve been watching house flipping shows and decided I wanted to give it a try.Six months ago I bought my first house with a 203k loan that I’m currently living in so I could get some experience.I paid $167,500 for the house and took out $35,000 with the 203k.The house was a probate that had been abandoned for 5 years.Half the house was on a concrete slab that had sunk about 4” in the middle and it was completely outdated.We removed 2 load bearing walls to open up the kitchen, knocked out the back wall, built a new subfloor, and put up a 4 panel sliding glass door to let in some sun light.We installed porcelain tile in the kitchen, stainless steel appliances, new cabinets and quartz counters as well as recessed lighting.We fixed the foundation problems by mudjacking to raise the floors and carpeted the back 3 rooms that sat on top of the slab.As you can imagine we ran through the $35,000 quickly.The 2 bathrooms are still outdated and the house needs new siding.After the renovation we had it reappraised (per the 203k loan agreement) and they said it was worth $215,000.About 3 months after the renovation I attended a 3 day Fortune Builders seminar and come to a realization I probably could have saved about $20,000 if I had systems and processes to follow before I purchased the house.After listening to BP podcasts and hear other people’s experiences I’m quite fortunate I didn’t lose money.This sums up my real estate investing experience.

And it limits the risk of damage.At some point, thats the best you can do.